Carpenter Technology Sets $1.2 Billion-$1.3 Billion Fiscal 2029 Operating Income Target

Carpenter Technology set a fiscal 2029 operating income target of $1.2 billion to $1.3 billion and kept its fiscal 2027 free cash flow outlook at $400 million to $430 million.

President, CEO and Executive Chairman Tony Thene called the first quarter a “solid start to fiscal year 2027” and said operating income reached a first-quarter record, up 28% from a year earlier.

Operating income was $196.4 million for the quarter ended Sept. 30, compared with $153.3 million a year earlier. Net sales rose 9% to $798.2 million. Carpenter still expects fiscal 2027 operating income of $850 million to $880 million. More details are in Carpenter Technology’s first-quarter results.